Caspian Oil & Gas West Mailisu 2 Well Encounters Further Oil Shows

Caspian Oil & Gas Limited reports that the well has penetrated all of the primary targets in the West Mailisu #2 well.

The West Mailisu #2 well is on Caspian’s 100%-owned West Mailisu licence in the Kyrgyz Republic, Central Asia.

Fluorescence and gas shows were encountered from the top of Bed V with continued higher gas reading throughout the section carbonate interval (1805-1825m) including Bed VII.

While the limestone is described as having low porosity, oil films appear in microfractures in the formation and oil shows were present with indication of yellow fluorescence over the upper section (1805-1808m). This suggests that fractures provide a conduit within the reservoir.

The top of Bed V was penetrated some 40m high to prognosis. In light of this, the zone previously called Bed II is likely to be Bed III, which was also a primary target.

Caspian Chief Executive Officer Graeme Parsons said the clarification of the presence of oil in Bed III rather than Bed II is good news as Bed III is likely to be more extensive and have better reservoir characteristics.

The well is currently drilling ahead at 2015m with the aim of intersecting some of the secondary Cretaceous sandstone targets. At this time Beds XIII & XIV have been penetrated and in both cases proved to be thin and poorly developed with some minor gas associated with each zone. The gas however is solely methane and unlikely to contain commercial volumes.

Caspian plans to drill ahead to around 2050m to investigate whether any better Cretaceous sands are present and then undertake wireline logging operations. Once the logging has been conducted a plan for flow testing Beds III and V will be formulated.

The well is being drilled by Caspian’s own rig to a depth of approximately 2,000m, testing the Eocene and upper Cretaceous sands.

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